Euro zone inflation rises to 2.6% in May, but bloc still seen heading for interest rate cut
Publishing timestamp: 2024-05-31 06:46:56
Summary
Euro zone inflation increased to 2.6% in May, higher than expected, but markets still expect interest rate cut at ECB's June meeting. Services inflation rose to 4.1%, key metric for ECB. Money markets fully pricing in June cut, followed by one more reduction in 2024. ECB members may pay attention to rate of services inflation. Euro slightly higher against USD and GBP.
Sentiment: NEUTRAL
Tickers: EUR=,
Keywords: markets, business news, economy, eur/usd, breaking news: europe, central banking,
Source: https://www.cnbc.com/2024/05/31/euro-zone-inflation-may-2024.html